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New Zealand Consumer Confidence June 2024

New Zealand: Consumer confidence deteriorates in June

Consumer confidence fell to 83.2 in June from May’s 84.9. Consequently, the index remained entrenched below the 100-threshold, indicating pessimism among consumers.

Consumers grew more downbeat on current and future conditions, and their two-year inflation expectations rose from 3.8% to 4.2%.

Downbeat consumer sentiment in Q2 will likely feed into muted private spending: Our panelists currently see only minor year-on-year private spending growth in the quarter.

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